A Last Will and Testament is the means by which a person disposes of property after his or her own death. The Last Will and Testament can only dispose of those assets that are in the sole name of the person who has died. The Last Will and Testament can not dispose of assets that are held in trust, that are jointly owned with others, and that have a beneficiary designation such as IRA, life insurance policy or annuity.
Last Will And Testament
This article was edited and reviewed by FindLaw Attorney Writers | Last reviewed March 26, 2008
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